Tag Archives: HUD

MetLife Home Loans, a mortgage finance company headquartered in Irving, Texas, has agreed to pay $123.5 million to settle claims of lending violations on government-backed mortgage loans committed by one of its subsidiaries under the False Claims Act, according to an announcement from the U.S. Department of Justice.

U.S. Department of Housing and Urban Development Secretary Julián Castro addressed the U.S. House Committee on Appropriations Wednesday on the Fiscal Year 2016 budget proposal for HUD, where he emphasized the commitment from the Obama administration to continue to provide affordable housing for families, seniors, disabled Americans and others in need of resources.

While most Republican lawmakers grilled HUD Secretary Julián Castro on the recent lowering of the FHA mortgage insurance premiums and FHA's MMI Fund Wednesday during his testimony to the House Financial Services Committee, Representative Mia Love (R-Utah) opted to cover a different subject: defaults and their potentially negative effect on their respective neighborhoods.

In his first time to testify before Congress since being named HUD Secretary last July, Julián Castro on Wednesday defended the decision to lower FHA mortgage insurance premiums and predicted that the agency's Mutual Mortgage Insurance Fund would exceed the required 2 percent ratio within two years.

U.S. Department of Housing and Urban Development (HUD) Secretary Julián Castro is scheduled to testify before the House Financial Services Committee on Wednesday, February 11, starting at 10 a.m. Eastern time.

Investigators from HUD's Office of Inspector General (HUD OIG) and the Government Accountability Office (GAO) testified before the House Financial Services Subcommittee on Oversight and Investigations on Wednesday that some senior officials at HUD violated federal law and obstructed investigators' efforts to uncover wrongdoing.

As analysts and critics pore over the details of the White House's proposed budget for fiscal year 2016, the executive department in charge of housing says it hopes to use its share to restore cuts made after 2013's budget sequester.

The U.S. Department of Housing and Urban Development (HUD) has provided guidance for state and local entities for implementation of the National Housing Trust Fund (HTF) in the form of an interim program rule published in the Federal Register, according to an announcement from HUD.

A new policy issued by the Federal Housing Administration (FHA) on Thursday under its Home Equity Conversion Mortgage (HECM) Program will allow reverse mortgage lenders to delay calling HECMs from a surviving non-borrowing spouse following the death of the last surviving borrower. Such a delay on collection of the HECM from the surviving non-borrowing spouse would postpone the foreclosure process normally triggered by last surviving borrower's death. Under the new policy, reverse mortgage lenders have the option of assigning the HECM to HUD, thus allowing that spouse to remain in the home despite his or her non-borrowing status.

Castro based his optimism on what he called a "confluence of factors" he believes will encourage more potential homebuyers to take the plunge this year, including a leveling off in home prices, lower entry barriers to mortgage credit, and falling costs—helped by an imminent reduction in Federal Housing Administration (FHA) annual mortgage insurance premiums and the Federal Housing Finance Agency's (FHFA) directive for Fannie and Freddie to accept mortgages with lower down payments.